Gimo, a FinTech startup from Vietnam, has closed its Series A funding round with an investment led by TNB Aura.
Other investors in the round included Resolution Ventures, ThinkZone Ventures, Integra Partners, Y Combinator and Blauwpark Partners.
Founded in 2019, Gimo claims it strives to better the financial lives of the Vietnamese financially underserved, first with on-demand pay.
Currently, nearly 500,000 workers from approximately 100 businesses are getting on-demand access to their earned wages with Gimo, the firm claims.
GIMO’s latest financing follows a year of remarkable growth. With a solid 24x year-on-year revenue growth and an 11x year-on-year transaction volume increase, the company claims it has delivered one of the favourite financial apps for Vietnamese financially underserved workers.
In 2021, Gimo secured a US$1.9m seed extension round and is currently in the process of raising debt capital.
Gimo CEO and co-founder Quan Nguyen said, “The fresh capital will bolster our product innovation that appeals to the underserved workers and drive revenue growth. Our team has been incubating a suite of digital financial solutions and expect to launch in the months to come.”
San Fransciso-based tech firm SendOwl has bagged $9m from a seed funding round headed by TheGP.
SendOwl provides the infrastructure to transfer, manage, protect and collect payment for digital products.
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